African economies have suffered from supply chain disruptions linked to COVID-19 and Sub-Saharan Africa's economy is expected to shrink by 3.2 percent in 2020.
Betty Maina, Kenya's Cabinet Secretary for Trade and Industry said that reimaging African economies and businesses should inform efforts to hasten recovery and create new job opportunities.
"There is an opportunity to establish a new post-COVID-19 economic order that guarantees a better income for households, foster innovation, competitiveness and growth," said Maina.
But leadership and foresight are required to accelerate this recovery through promoting local manufacturing, intra-African trade and formalization of small and medium-sized enterprises," she added.
Maina said that strengthening the resilience of local supply chains combined with less reliance on foreign imports is key to accelerate post-COVID-19 economic recovery in Africa.
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